A project with a market cap of only $1.1 million has its largest holder with a position of just $35,000. This data combination reflects the current state of the Binance Smart Chain ecosystem—severe liquidity fragmentation, and an imbalance between market cap size and the concentration of large holders has become the norm.

Small-cap projects are easily dominated by top holders. This structural characteristic not only demonstrates the diversity of BSC ecosystem participants but also exposes the shortcomings in liquidity design of some projects. When the holding size of a single account is disproportionately large compared to the total market cap of the project, risk volatility is amplified, which is a market phenomenon that ordinary participants should be cautious of.

As an important public chain ecosystem, the health of projects within BSC and the design of liquidity structures directly impact the safety of market participation and the true market depth.